Citigroup, more commonly known as Citi, is an American-based multinational investment bank that is home to thousands of dedicated employees throughout the world. The bank is also a financial services cooperation and has its headquarters in the city of New York. The company actually came into existence when the banking giants, Citicorp and the Travelers Group merged in 1998.
Citi is now located in multiple cities across the globe. As far as the salaries of the employees working at Citi are concerned, it must be noted that these depend on a number of factors. First the City salaries are dependent upon the country in which the branch is located, secondly, the salary also depends on the extent of technical knowledge and skill required for the job. Lastly, the salaries are also classified according to the post of the employee. The more competitive and higher the post, the more is the person getting paid for the job, naturally.
In Singapore, Citi is the largest foreign bank by headcount. Citi’s Singapore annual based base salaries for fresh IBD analysts can reach up to 130,000 Singaporean Dollars. Other than that, if you are the front-office associate at the bank in Singapore, you can most likely expect to earn at least 150,000 Singaporean Dollars. If you are promoted to the position of Vice President (VP), this number can go up to 210,000 Singaporean Dollars depending upon your experience and performance at the bank.
The best thing about the bank is that Citi is very keen on holding onto its employees. In order to do so, the organization offers promotions, bonuses and other non-monetary incentives so that employees remain motivated and satisfied with their employers. The more loyal the employee, the more he is expected to earn in the future. Hence, long standing investment bankers tend to stick around so they can secure more handsome monetary compensations. If the employee reaches the level of a director, he/she can expect the bank to pay around 330,000 Singaporean Dollars and also bag around a further 300,000 Singaporean dollars as monetary bonus. The figure of the bonus depends mostly on the employee’s overall performance at the firm.
As a Financial Analyst, you can make up to $55,000 with additional pay ranging upto another $10,000. If you are employed as a customer services representative, the expected amount of salary is around $30,000 with an additional pay of $4,000 expected. However, the employees who require high technical knowledge are paid much greater than this. A Senior Application Development Manager is expected to get around 120,000 Singaporean Dollars with handsome amount of additional bonuses that may total up to be around 10,000 Singaporean Dollars as well. The IT analyst also receives around the same bracket with the average salary ranging up to 100,000 Singaporean Dollars and additional pay ranging in between 5,000 to 8,000 Singaporean Dollars.
Undoubtedly Citi Bank is highly ranked and therefore, it is very generous with respect to its salaries. It is true that Citi salaries are high. Hence, if you are looking to apply to Citi, you should not hesitate as great monetary rewards await you ahead.